407 electronic chattel paper: invitation accepted jane k winn abstract: in 1999, revised ucc article 9 governing secured lending was updated to permit the. Lease chattel paper of the leasing industry, 1i has provoked debate over whether the distinc-tion should be eliminated and unitary treatment accorded all leases'2. (a) general rule: control of electronic chattel paper a secured party has control of electronic chattel paper if a system employed for evidencing the transfer of. Definition of chattel in the financial dictionary - by free online english dictionary and encyclopedia what is chattel meaning of chattel as a finance term what. Chicago-kent law review volume 74 issue 3symposium on revised ucc article 9 article 8 june 1999 electronic chattel paper under revised article 9: updating the concept.
Chattel paper means a record or records that evidence both a monetary obligation and a security interest in specific goods, a security interest in specific goods. A chattel paper is a document with information about a monetary obligation along with the specifics of a security interest that. Pursuant to the uniform commercial code, electronic chattel paper means chattel paper evidenced by a record or records consisting of information stored in an.
Rights to payment almost all the major rights to payment: chattel paper: a (1) security interest in property or a lease of property and (2) a monetary obligation. Using first principles of ucc article 9 to solve statutory puzzles in receivables financing chattel paper as a statutory puzzles in receivables financing. Equipment lease and finance is often viewed, fairly or not, as an “older” industry that moves a little slower and is hesitant to adopt new trends.
A chattel paper is a document containing information about a financial obligation pertaining to a security interest held by a creditor. Electronic chattel paper: invitation accepted chattel paper is defined by ucc article 9 as a record that evidences both a monetary obligation and a security.
Definitions of english legal concepts that are clear and easy to understand, written at an intermediate level and designed especially for non-native speakers of english. Define chattel chattel synonyms, chattel pronunciation, chattel translation, english dictionary definition of chattel n 1 law an article of movable personal property. Ken weinberg dissects the super-priority rule in relation to possessors and filers of chattel paper, examining the requirements of new value and possession.